Out of 3,646 unique SIC codes in the United States, 16 share a distinguishing trait that makes providing employer-sponsored benefits a daunting task – specifically, their reliance on having a large percentage of hourly, low-wage employees to deliver their product or service.
For industries like restaurants, food service, security and retailers, the compliance with the Affordable Care Act has been particularly troublesome; employers often can’t meet the stringent requirements and employees can’t afford to participate in the plans. Because hourly employees cannot afford the high cost of traditional PPOs, participation rates are well below the 40%-50% participation rate requirements of traditional insurers.
It doesn’t have to be that way.
Corporate Benefits Alliance has curated a benefits program to specifically address these issues unique to large and mid-size firms dependent on a large hourly workforce. All programs are fully ACA compliant, feature first-dollar coverage, and reduce annual healthcare expenditures by as much as 50%. Besides increased participation and happier employees, here are other outcomes we deliver to our clients:
Higher employee engagement and reduced turn-over
Benefits that employees want to buy
Reduction of bottom-line expenses for healthcare
A powerful recruiting tool for a distressed labor market
